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Listed by Tyler Leeson, DRE #01451551 • Marcus & Millichap RE Invest
$ 9,595,000
Est. payment /mo
New
291 293 Avocado ST Costa Mesa, CA 92627
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26091598
Year Built 1965
Source California Regional MLS
Property Description
291 - 293 Avocado Street is a 24-unit multifamily property in Costa Mesa, California. The asset consists of two 12-unit buildings situated on contiguous parcels and arranged around a shared central courtyard. Built in 1965, the gated property offers approximately 18,012 rentable square feet and features a unit mix of 20 one-bed/one-bath units and 4 two-bed/one-bath units. The property provides 45 parking spaces (approximately 1.9 per unit), including a mix of surface, carport, and garage parking, along with an on-site laundry room. Ownership has completed several capital improvements, including a roof replacement, copper plumbing, and upgraded electrical subpanels. The property has also completed its SB-721 inspection with no required corrective work. 19 of the 24 units have been renovated, and rents are currently near market, supporting stable in-place income. The installation of in-unit washer/dryer hookups presents a potential enhancement, as this feature remains relatively uncommon among comparable properties yet is highly desirable to renters. The property also includes underutilized common area space that could be repositioned into amenities or, subject to city approval, may offer ADU potential. The property is located in a desirable Westside Costa Mesa setting with conveni
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Laundry Community Facility
Exterior
Garage Spaces 45.0
Pool None
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 41907119
Special Listing Condition Not Applicable
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